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(4) For fiscal year 2008-09, the target is 54%. |
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| | (5) For fiscal year 2009-10 and succeeding years, the | target is 55%. |
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| | | Sec. A-35. 20-A MRSA §15671-A, as enacted by PL 2003, c. 712, §11, | | is amended to read: |
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| | | §15671-A. Property tax contribution to public education |
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| | | 1. Definitions. As used in this section, unless the context | | otherwise indicates, the following terms have the following | | meanings. |
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| | | A. "Funding public education from kindergarten to grade 12" | | means providing the cost of funding the essential programs | and services described in this chapter plus | total allocations for program cost | | debt service costs and adjustments. |
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| | | B. "Local cost share expectation" means the maximum amount | | of money for funding public education from kindergarten to | | grade 12 that may be derived from property tax for the | | required local contribution established in section 15688, | subsection 3 |
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| | | C.__"Statewide total local share" means the local share, | | calculated on a statewide basis, of the statewide total cost | | of the components of essential programs and services as | | adjusted pursuant to section 15671, subsection 7 to reflect | | the application of the transition targets to the base total | | component. |
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| | | D.__"Statewide valuation" means the certified total state | | valuation for the year prior to the most recently certified | | total state valuation for all municipalities statewide. |
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| | | 2. Local cost share expectation. The local cost share | expectation is established as follows. | | establishes full-value education mill rates that limit a | | municipality's required local contribution pursuant to section | | 15688, subsection 3-A.__The full-value mill rates represent rates | | that, if applied to the statewide valuation, would produce the | | statewide total local share.__Notwithstanding any other provision | | of law, with respect to the assessment of any property taxes for | | property tax years beginning on or after April 1, 2005, a | | municipality's required local contribution determined pursuant to | | section 15688, subsection 3-A establishes the local cost share | | expectation for that municipality. |
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